Marvell Technology - MRVL Stock Forecast, Price & News

Marvell Technology, Inc., together with its subsidiaries, designs, develops, and sells analog, mixed-signal, digital signal processing, and embedded and standalone integrated circuits. It offers a portfolio of Ethernet solutions, including controllers, network adapters, physical transceivers, and switches; single or multiple core processors; ASIC; and printer System-on-a-Chip products and application processors. The company also provides a range of storage products comprising storage controllers for hard disk drives (HDD) and solid-state drives that support various host system interfaces consisting of serial attached SCSI (SAS), serial advanced technology attachment (SATA), peripheral component interconnect express, non-volatile memory express (NVMe), and NVMe over fabrics; and fiber channel products, including host bus adapters, and controllers for server and storage system connectivity. It has operations in the United States, China, Malaysia, the Philippines, Thailand, Singapore, India, Israel, Japan, South Korea, Taiwan, and Vietnam. Marvell Technology, Inc. was incorporated in 1995 and is headquartered in Wilmington, Delaware.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp cut their price target on Marvell Technology from $95.00 to $90.00 and set an "overweight" rating on the stock in a research note on Friday, May 27th. Deutsche Bank Aktiengesellschaft cut their price target on Marvell Technology from $75.00 to $65.00 in a research note on Wednesday, July 20th. Bank of America cut their price target on Marvell Technology from $90.00 to $60.00 and set a "buy" rating on the stock in a research note on Wednesday, June 29th. Cowen cut their price target on Marvell Technology from $100.00 to $85.00 and set an "outperform" rating on the stock in a research note on Friday, May 27th. Finally, Needham & Company LLC cut their price target on Marvell Technology from $105.00 to $75.00 in a research note on Friday, May 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.41.

Marvell Technology Stock Performance

Shares of NASDAQ:MRVL opened at $53.71 on Friday. The stock has a 50 day moving average price of $50.43 and a 200 day moving average price of $59.65. Marvell Technology has a 52 week low of $41.07 and a 52 week high of $93.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.13 and a current ratio of 1.67. The stock has a market capitalization of $45.65 billion, a PE ratio of -88.05, a price-to-earnings-growth ratio of 1.98 and a beta of 1.46.

Marvell Technology (NASDAQ:MRVL - Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The semiconductor company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Marvell Technology had a positive return on equity of 6.92% and a negative net margin of 9.82%. The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.43 billion. During the same period in the prior year, the firm posted $0.15 earnings per share. The business's quarterly revenue was up 73.8% compared to the same quarter last year. Analysts predict that Marvell Technology will post 1.69 earnings per share for the current fiscal year.

Marvell Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Friday, July 8th were given a $0.06 dividend. The ex-dividend date of this dividend was Thursday, July 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.45%. Marvell Technology's payout ratio is -39.34%.

Insider Activity

In other news, CEO Matthew J. Murphy sold 30,000 shares of the firm's stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.10, for a total value of $1,803,000.00. Following the completion of the sale, the chief executive officer now directly owns 672,052 shares of the company's stock, valued at $40,390,325.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Matthew J. Murphy sold 30,000 shares of the stock in a transaction that occurred on Friday, May 27th. The stock was sold at an average price of $60.10, for a total transaction of $1,803,000.00. Following the transaction, the chief executive officer now owns 672,052 shares in the company, valued at $40,390,325.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mitchell Gaynor sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $48.80, for a total value of $244,000.00. Following the transaction, the executive vice president now owns 120,563 shares in the company, valued at approximately $5,883,474.40. The disclosure for this sale can be found here. Insiders sold a total of 61,194 shares of company stock valued at $3,505,827 over the last three months. Insiders own 0.45% of the company's stock.